CITIC Limited — Capital/Financing Update 2010

Oct 22, 2010

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

==> picture [182 x 59] intentionally omitted <==

(incorporated in Hong Kong with limited liability) (Stock Code: 267)

FURTHER ANNOUNCEMENT ON CONNECTED TRANSACTIONS AND CONTINUING CONNECTED TRANSACTIONS

ACQUISITION OF INTERESTS IN CEC AND ITS SUBSIDIARY

Reference is made to the joint announcement (the “ Announcement ”) of CITIC Pacific Limited (“ CITIC Pacific ”) and CITIC 1616 Holdings Limited (“ CITIC 1616 ”) dated 2 September 2010 and the circular (the “ Circular ”) of CITIC 1616 dated 22 October 2010 in respect of, among other things, the Transactions. Capitalised terms used in this announcement shall have the same meanings as those terms defined in the Announcement unless the context requires otherwise.

As disclosed in the Announcement, all independent non-executive directors of CITIC Pacific will render their views on the Transactions after the independent non-executive directors of CITIC 1616 have rendered theirs.

As disclosed in the section headed “Letter from the Independent Board Committee” of the Circular, the independent board committee (comprising all independent non-executive directors of CITIC 1616) of CITIC 1616, taking into account the independent advice of the independent financial adviser, namely Platinum Securities Company Limited (the “ Independent Financial Adviser ”), and the relevant information contained in the section headed “Letter from the Board” of the Circular, is of the opinion that the Transactions (which include the Acquisition, the Exclusive Service Agreement and the Annual Caps) are in the ordinary and usual course of business of the CITIC 1616 Group and on normal commercial terms; and that the terms of the Transactions (which include the Acquisition, the Exclusive Service Agreement and the Annual Caps) are fair and reasonable and in the interests of CITIC 1616 and its shareholders as a whole.

Taking into account the opinion of the independent board committee of CITIC 1616 as well as the letter of the Independent Financial Adviser contained in the section headed “Letter from the Independent Financial Adviser” of the Circular, the independent non-executive directors of CITIC Pacific are of the view that the Transactions (which include the Acquisition, the Exclusive Service Agreement and the Annual Caps) are in the ordinary and usual course of business of CITIC Pacific and its subsidiaries and on normal commercial terms; and that the terms of the Transactions

1

(which include the Acquisition, the Exclusive Service Agreement and the Annual Caps) are fair and reasonable and in the interests of CITIC Pacific and its shareholders as a whole.

By order of the Board CITIC Pacific Limited Ricky Choy Wing Kay Company Secretary

Hong Kong, 22 October 2010

As at the date hereof, the executive directors of CITIC Pacific are Messrs Chang Zhenming (Chairman), Zhang Jijing, Carl Yung Ming Jie, Vernon Francis Moore, Li Shilin, Liu Jifu, Milton Law Ming To, Wang Ande and Kwok Man Leung; the non-executive directors of CITIC Pacific are Messrs Willie Chang, André Desmarais, Ju Weimin, Yin Ke and Peter Kruyt (alternate director to Mr André Desmarais); and the independent non-executive directors of CITIC Pacific are Messrs Alexander Reid Hamilton, Hansen Loh Chung Hon and Norman Ho Hau Chong.

2